It will not make sense to run a corporation entirely onchain for a long time

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Start from what real businesses really need, and work from there, instead of from ideologically driven ideal behavior. Why would a business owner throw away private internal banking when they can use crypto and trad biz entities and banking in concert.

Of course may not make sense for many standard businesses, but IMO biggest problem with most daos is flat structure and with a hierarchy /part centralization a lot of interesting possibilities open up. Traditional opaque banking or not, that's not super important IMO .. would need considerations with staff, clients etc

I don’t believe token based governance is a panacea. Most of the time I just want to by the product, not join your board of directors.

Agreed. That said, I’d like to share in the profit/upside ie see my costs for that product go down. Tokens pretty good at recording that claim.